Airbus parent EADS reported firstquarter net income of €170 million (US$232 million), down 40 per cent from €285 million a year earlier, as net commercial aircraft orders dropped dramatically year-on-year to eight compared to 395 in last year’s firstquarter. First-quarter revenue fell 14 per cent to €8.47 billion and EBIT fell 70 per cent to €232 million. Airbus’s revenue declined 21 per cent to €5.88 billion as it delivered 116 aircraft … [Read more...] about EUROPE & CIS: EADS first-quarter profit tumbles 40%
Air Shipping Asia
EUROPE & CIS: Cargo B takes delivery of second B747-400F
Belgian-based cargo airline, Cargo B has recently taken delivery of its second, new Boeing 747-400 freighter. Like its first new build B747-400 freighter delivered in December, the new aircraft is also leased from the airline’s strategic partner, Nippon Cargo Airlines, and will start operations from Brussels on 17 May. According to Niek Van Der Weide, Cargo B executive vice president of commercial, the carrier can now serve its African markets with three weekly flights to … [Read more...] about EUROPE & CIS: Cargo B takes delivery of second B747-400F
EUROPE & CIS: Rhenus & Lufthansa team up to boost volumes
Rhenus Freight Logistics and Lufthansa Cargo have signed an agreement aimed at winning more air freight business from medium-sized European companies shipping to the US, Asia and Middle East. Rhenus, which has annual turnover of some €3.3 billion (US$4.5 billion), said it would introduce its European shipper customers to Lufthansa Cargo as part of the preferred partner deal. “Our customers obtain reliable and high-quality services for their air freight in return,†added … [Read more...] about EUROPE & CIS: Rhenus & Lufthansa team up to boost volumes
EUROPE & CIS: More freighter capacity cuts likely
Further cuts in global freighter capacity are inevitable because of unsustainable loss-making among airlines, according to Europe’s biggest all-cargo carrier. Robert van de Weg, senior VP for sales and marketing at Cargolux, said demand was down by 20-25 per cent, but estimated that capacity had only been reduced by 10-12 per cent. “So there is quite a lot still to come out, “ he added, saying Cargolux had reduced its services by around 10 per cent. Most of the … [Read more...] about EUROPE & CIS: More freighter capacity cuts likely
EUROPE & CIS: Air France/KLM and Delta do transatlantic deal
A new transatlantic joint venture between Air France-KLM and Delta Air Lines will boost each partner’s profits by up to US$150 million, the two airlines said recently. Air France-KLM CEO Pierre-Henri Gourgeon said the 13-year agreement to pool revenue and costs for flights between Europe and the US, and to cooperate closely on many other flights, will significantly lift both carriers’ revenues while cutting costs. The $300 million total should be achieved starting … [Read more...] about EUROPE & CIS: Air France/KLM and Delta do transatlantic deal
EUROPE & CIS: Lufthansa may walk away from BMI deal
Lufthansa has indicated it may walk away from its takeover deal for BMI, over the the issue of capital restructuring, according to a Financial Times report. If successful it will own about 80 per cent of shares, but obstructing the deal is the issue of who will pay for the capital restructuring, with BMI management saying it’s not needed. The German carrier is also said to be seeking up to €500 million in ‘restructuring’ aid. Lufthansa also has a number of … [Read more...] about EUROPE & CIS: Lufthansa may walk away from BMI deal
